USD/SEK may fall 713 - 1053 pips

Our pivot point is at 10.4270.

Our preference

The downside prevails as long as 10.4270 is resistance.

Alternative scenario

The upside breakout of 10.4270, would call for 10.4850 and 10.5190.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 10.3890 and 10.3930).

Supports and resistances

10.5190 **

10.4850 *

10.4270 **

10.4040

10.3793 last

10.3080

10.2740 **

10.2390 *

10.2050 **

Number of asterisks represents the strength of support and resistance levels.